Euro is recovering from earlier losses today, eking out gains even after the latest German inflation data.
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Commodity currencies are still clinging to gains, even after a bit of a pull back following yesterday’s commodity-fueled run. Canadian dollar is one of those that remains mostly higher against its major counterparts, logging gains against the US dollar.
There’s a bit of risk appetite in the markets, and the Japanese yen is lower as a result. even though some worries about China and Ukraine initially caused a bit of aversion, things have changed and the yen is moving lower — even against the euro.
Euro is dragging today, heading lower as slower growth in the eurozone hurts performance. The German data was disappointing, and as was a PMI reading for the entire eurozone. With the dollar firming, thanks to the latest out of the Federal Reserve, it’s no surprise that the euro is struggling.
Even though the dollar index is higher today, the greenback is trading mixed against its major counterparts. Interest in risk has some money flowing out of the dollar, while there are some currencies that are floundering in general.
Once again, ECB officials are talking about the possibility of negative interest rates to help boost the eurozone economy. As a result, the euro is heading lower against its major counterparts, even hitting a multi-week low against the US dollar.
The UK pound is higher today, gaining ground even after the latest CPI data shows that inflation remains below 2 per cent. The news isn’t phasing the sterling, which is higher against most of its major counterparts.
US dollar index is down today, dropping as risk appetite improves in the Forex market. US retail sales data is helping, and global stocks are improving. With traders looking for yield, the greenback isn’t needed as a safe haven, and that is sending it lower.
Euro continues to log gains, even as many throughout the eurozone express concern about the euro’s recent appreciation.